US Foot & Ankle Specialists LLC, a portfolio company of NMS Capital, has acquired Newport News, Virginia-based Affiliated Podiatrists, P.C., a provider of podiatric care. No financial terms were disclosed.
New York, NY, June 4, 2019 – US Foot & Ankle Specialists, LLC (“USFAS”), a portfolio company of NMS Capital (“NMS”), announced today that it has acquired Affiliated Podiatrists, P.C. (“AP”). Based in Newport News, Virginia, AP has been providing podiatric care through its three locations to the Newport News area for over 75 years. AP is led by Dr. Howard Roesen, who will continue to lead the practice and benefit from the additional administrative support provided by USFAS.
“Dr. Roesen is a podiatrist we have known for several years now and are thrilled to bring into the USFAS family. He is a well-respected podiatrist with a great clinical reputation. This acquisition allows us to quickly build scale in a desirable market and expand our presence in Virginia. Furthermore, our partnership with NMS affords us the support and resources to execute on our strategy of partnering with high-quality practices and providers in existing and new markets as we seek to build USFAS as the provider of choice in the podiatric industry,” said Brett Richey, Chief Executive Officer of USFAS.
Dr. Howard Roesen commented, “I am delighted to partner with USFAS, a leading podiatry platform in the Mid-Atlantic region with a great culture of supporting its podiatrists. My practice and our patients will greatly benefit from being a part of a larger organization with more services and support for our patients to provide even better patient care.”
David Peterson, Managing Director at NMS added, “We are very excited to partner with Dr. Roesen and his practice, our first affiliation post NMS’s initial investment with USFAS. AP is a high-quality podiatry practice that exemplifies what we look for in other podiatry practices interested in joining USFAS. This is our first of many affiliations, and we look forward to the future growth of the overall platform.”
As part of the affiliation, AP will benefit from USFAS’s extensive administrative and support services, including investments in clinical compliance, information technology, electronic medical records, revenue cycle management, payor credentialing and contracting, finance and accounting, human resources and business development.
About US Foot & Ankle Specialists
USFAS is a leading provider of podiatric services providing a full range of specialty services for the advanced treatment of foot and lower extremity conditions. Headquartered in Rockville, Maryland, USFAS provides services through a growing network of nearly 40 offices in states including Maryland, Virginia, Pennsylvania, North Carolina and Washington, D.C and over 60 Board Certified and Board Qualified podiatrists. USFAS is an affiliate of Foot & Ankle Specialists of the Mid-Atlantic and NMS Capital, with plans to expand nationally.
For additional information on USFAS, visit the company’s website at www.footandankle-usa.com
About NMS Capital
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The Firm was formed through the spin-out of a group of portfolio companies from the Goldman Sachs Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Healthcare Services and Specialized Business Services. For additional information on NMS, visit the firm’s website at www.nms-capital.co